There are a variety of different ways a lawyer gets paid for his or her legal services, including, but not limited to:
- Flat fees: Lawyers charge clients a fixed cost for legal services.
- Contingency fees: Lawyers are paid a certain percentage of the settlement amount awarded.
- Hourly rates (billable hours): Lawyers charge by the hours they work on a case.
All fee arrangements must be in writing before representation begins.
How Does Your Law Firm Get Money?
At GB Law, our attorneys work on a contingency fee basis. This means clients pay nothing from their own pockets for our legal services unless we successfully settle their case. We will not charge any fees or expenses unless your case settles or is resolved by a trial. That means we will not send you bills each month like many lawyers.
How Does a Contingency Fee Arrangement Work?
In contingency fee arrangements, an attorney agrees to accept a certain percentage of the money awarded in a judgment or negotiated in a settlement.
GB Law attorneys exclusively work on contingency fee cases, taking up to one-third of the money recovered in a settlement. At GB Law, we promise our clients that the amount they receive will be more than our fee if the case settles before going to trial.
Other lawyers may tell you that they only charge 25%, but then charge as much as 40% if your case goes into litigation.
When discussing reduced fees, keep in mind that people often get what they pay for.
This, however, does not include expenses accrued during the course of a client’s representation. In any litigation, there are several expenses, such as:
- Filing fees
- Copies of medical records or medical reports
- Depositions and medical opinions
When the settlement amount is awarded, the attorney will take out just enough to cover these expenses. After these expenses are accounted for, the attorney will take out their agreed-upon percentage of the remaining balance, and the rest of the settlement will go to the client.
Why Do Your Attorneys Get Paid From Contingency Fees Instead of Charging Hourly Rates?
GB Law attorneys don’t bill by the hour or require an upfront retainer fee (which is like a deposit). Some lawyers charge a large retainer and send bills each month to their clients for services and attorney fees can add up fast. Instead, we choose to work on a contingency fee basis because we are so confident in our ability to obtain your settlement.
Get started today with a free consultation.